Home Purchase Expenses

There are many costs that homebuyers incur,
especially upon purchasing your first home that you should expect to pay. Some
of the expenses related to buying a home are one-time costs, while others are
continuing costs.

Your largest cost at the beginning is your
down payment. As a first time buyer, this would likely represent only 5 - 10%
of the purchase price. However, you should be prepared to pay for additional
costs, such as:

Legal Fees &
Disbursements

GST and PST (if
applicable)

Property or Land
Transfer Tax

Adjustments
(reimbursed to the vendor)

Interest

Property Taxes

Utility Payments

Strata or
Condominium Fees

Estoppel
certificate fee

Survey Fee

Home Inspection
Fee

Water quality and
quantity certificate

Appraisal Fee

Mortgage broker's
fee (if applicable)

Mortgage Loan
Insurance Premium (if less than 25% down)

Mortgage Loan
Insurance Application Fee (if less than 25% down)

Moving Expenses

Renovations and
repairs

Furniture, paint,
carpeting, window coverings, etc.

Service and
Utility Hook-up Fees

Property/Condominium
Insurance

Mortgage
Application Fee

Deed and/or
Mortgage Registration Fee

Additionally, once you have purchased your
home, you will incur regular expenses on a monthly, quarterly or yearly basis.
Some of these costs include: